Suppose the current exchange rates are 1.3215 dollars per euro, and 84.19 yen per dollar. What is
the current exchange rate between yen and euros?
A) 111.257 yen per euro B) 151.696 yen per euro
C) 147.571 yen per euro D) 86.356 yen per euro
A
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Distinguish between secured and unsecured credit.
What will be an ideal response?
A promoter is personally liable on contracts made by him in the name of the unformed corporation:
A) even if the corporation adopts the contract. B) only until the corporation is formed. C) if the promoter, the third party, and the corporation enter into a novation substituting the corporation for the promoter. D) only if the corporation is never formed.
________ activities increase the pool of candidates that might be selected for a job.
A) Recruitment B) Benchmarking C) Mobilization D) Job enlistment E) Job enrollment
On September 1, Kennedy Company loaned $104,000, at 12% annual interest, to a customer. Interest and principal will be collected when the loan matures one year from the issue date. Assuming adjustments are only made at year-end, what is the adjusting entry for accruing interest that Kennedy would need to make on December 31, the calendar year-end?
A. Debit Cash, $4160; credit Interest Revenue, $4160. B. Debit Interest Receivable, $12,480; credit Cash, $12,480. C. Debit Interest Expense, $4160; credit Interest Payable, $4160. D. Debit Interest Expense, $12,480; credit Interest Payable, $12,480. E. Debit Interest Receivable, $4160; credit Interest Revenue, $4160.